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Author Topic: How to receive bitcoin directly in Electrum wallet without CoinBase account?  (Read 162 times)
chits12345
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November 01, 2017, 09:51:20 AM
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I have to receive payment from overseas client. I am thinking about accepting bitcoin as a payment.  My client is new to bitcoin and I need to guide him in making his bitcoin payment. I have read everything about bitcoin but have few doubts because It will be my first bitcoin transaction. I want to receive bitcoin directly in my electrum wallet without opening an account on bitcoin exchange websites. My client is ready to open a CoinBase account but does’t want to create a wallet.

I already have an electrum desktop wallet and I can see multiple “receive” addresses in my wallet. According to me, I should ask my U.S. client to
1. Open a CoinBase account and verify it.
2. Buy Bitcoin with credit card using “Buy” button on CoinBase website
3. Send BitCoin to my Electrum BitCoin Address using “Send” button on CoinBase website.

Now I am not sure about 3rd step. Can you send bitcoin directly from a CoinBase account to an electrum wallet? or you can send it only to another CoinBase account (instead of Electrum desktop wallet) using CoinBase Bitcoin address (instead of Electrum wallet bitcoin address). I don’t want to open a  CoinBase account and want to receive money directly in my Electrum wallet. Do I need a CoinBase account for reaching bitcoin in my wallet?

If you can send bitcoin from CoinBase account to an Electrum wallet, is it necessary that you own that electrum wallet? Can you send bitcoin from CoinBase to any Electrum wallet? or you can send it only to your own electrum wallet. Does my client need a wallet to send money? Can’t he send bitcoin from CoinBase without having a wallet?

How can I receive bitcoins directly in my electrum wallet without opening an CoinBase account or an exchange account? How my client can send bitcoin via CoinBase without creating a wallet? Is it even  possible to meet both conditions? If yes, please guide me with correct procedure that I should sent to my client.

Any help is greatly appreciated.

Thanks in advance.
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November 01, 2017, 09:56:53 AM
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I have to receive payment from overseas client. I am thinking about accepting bitcoin as a payment.  My client is new to bitcoin and I need to guide him in making his bitcoin payment. I have read everything about bitcoin but have few doubts because It will be my first bitcoin transaction. I want to receive bitcoin directly in my electrum wallet without opening an account on bitcoin exchange websites. My client is ready to open a CoinBase account but does’t want to create a wallet.

I already have an electrum desktop wallet and I can see multiple “receive” addresses in my wallet. According to me, I should ask my U.S. client to
1. Open a CoinBase account and verify it.
2. Buy Bitcoin with credit card using “Buy” button on CoinBase website
3. Send BitCoin to my Electrum BitCoin Address using “Send” button on CoinBase website.

Now I am not sure about 3rd step. Can you send bitcoin directly from a CoinBase account to an electrum wallet? or you can send it only to another CoinBase account (instead of Electrum desktop wallet) using CoinBase Bitcoin address (instead of Electrum wallet bitcoin address). I don’t want to open a  CoinBase account and want to receive money directly in my Electrum wallet. Do I need a CoinBase account for reaching bitcoin in my wallet?

If you can send bitcoin from CoinBase account to an Electrum wallet, is it necessary that you own that electrum wallet? Can you send bitcoin from CoinBase to any Electrum wallet? or you can send it only to your own electrum wallet. Does my client need a wallet to send money? Can’t he send bitcoin from CoinBase without having a wallet?

How can I receive bitcoins directly in my electrum wallet without opening an CoinBase account or an exchange account? How my client can send bitcoin via CoinBase without creating a wallet? Is it even  possible to meet both conditions? If yes, please guide me with correct procedure that I should sent to my client.

Any help is greatly appreciated.

Thanks in advance.

To receive bitcoins in your electrum address, you don't need to have a coinbase account.
You can give out your bitcoin address literally just like you give email id. Anyone who make transactions on your address from any wallet that supports bitcoin sending option.
It is necessary for the sender to have a wallet where he can store bitcoins so that he can later transfer them to anyone. Not compulsory to have electrum specifically.
As i know, blockchain.info also supports card deposits from some major countries without even passing verification.
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November 01, 2017, 10:00:27 AM
 #3

Once your client will open an account with coinbase and use their credit card to buy bitcoin from coinbase, it will be transferred to a coinbase bitcoin wallet first. So registering with coinbase is creating a wallet only. Without a bitcoin wallet, there's no other use of coinbase. Once your client receives the desired amount of bitcoins to their coinbase wallet, they can send it to any bitcoin address in this world. You just need to provide your hexadecimal bitcoin address to them and they will just make a transfer to that wallet. Doesn't matter who owns that wallet or by whom it is being sent. I hope that helps!

chits12345
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November 01, 2017, 10:05:03 AM
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Anyone who make transactions on your address from any wallet that supports bitcoin sending option.

Thanks for quick reply. You said "anyone who make transactions on my address from any Wallet" but CoinBase is not a wallet. My Client doesn't want to create a wallet. Can he just buy bitcoin and send directly to me from his COinBase to my wallet? or he needs to transfer from CoinBase to his own Wallet first and then from his wallet to my wallet.

Please confirm.

Thanks again.
chits12345
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November 01, 2017, 10:23:03 AM
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Once your client will open an account with coinbase and use their credit card to buy bitcoin from coinbase, it will be transferred to a coinbase bitcoin wallet first. So registering with coinbase is creating a wallet only. Without a bitcoin wallet, there's no other use of coinbase.

So it means CoinBase has its own bitcoin wallet. After creating an account and buying bitcoin on CoinBase, my client doesn't need to transfer bitcoins from CoinBase to his own Electrum wallet first and then send from his Electrum wallet to my Electrum wallet.

He can directly send from CoinBase bitcoin wallet to my Electrum wallet using my bitcoin address.

Did I understand it correctly? Please confirm.

Thanks.
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November 01, 2017, 10:23:15 AM
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I believe as per coinbase rules, the bitcoins will first go to a coinbase wallet which they will have to create at first while opening an account. Without your client creating a coinbase wallet, it can't be sent out to an electrum wallet. So you client will have to create a wallet with coinbase to receive their purchased bitcoin. Later it can be sent out to you as per your preferred wallet.

   
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November 01, 2017, 10:24:57 AM
 #7

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Anyone who make transactions on your address from any wallet that supports bitcoin sending option.

Thanks for quick reply. You said "anyone who make transactions on my address from any Wallet" but CoinBase is not a wallet. My Client doesn't want to create a wallet. Can he just buy bitcoin and send directly to me from his COinBase to my wallet? or he needs to transfer from CoinBase to his own Wallet first and then from his wallet to my wallet.

Please confirm.

Thanks again.

I think when you buy Bitcoin there, Coinbase will automatically create a wallet which stores your Bitcoin. That's i think is more likely to happen. So whether he don't want the wallet or not. Coinbase will create one for you. Now if you don't want it. Then, use other service like coinmama. This is a broker which you can buy bitcoin. Coinmama don't create a wallet where you store your bitcoins. So you only have to enter the wallet address where you receive Bitcoins. Then, that's it.  Coinmama does not store your Bitcoin because they are not providing wallets to their customers. I hope it helps.

chits12345
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November 01, 2017, 10:33:11 AM
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I believe as per coinbase rules, the bitcoins will first go to a coinbase wallet which they will have to create at first while opening an account. Without your client creating a coinbase wallet, it can't be sent out to an electrum wallet. So you client will have to create a wallet with coinbase to receive their purchased bitcoin. Later it can be sent out to you as per your preferred wallet.

Sorry, I think I was not clear in my post. My client doesn't want to create Electrum wallet but he is OK with CoinBase Wallet or account. He doesn't want to maintain 2 wallets for making payment. He also doesn't want to hold bitcoins for payment. He just want to buy the bitcoins of the amount that he need to pay and send it to me. Once sent, there will be no bitcoins (or almost 0.00000 bitcoins) in his coinbase account. So I think CoinBase account is enough for that purpose.
chits12345
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November 01, 2017, 10:49:46 AM
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Coinmama don't create a wallet where you store your bitcoins. So you only have to enter the wallet address where you receive Bitcoins.

You mean that my client should enter my Electrum wallet address for receiving bitcoins (during credit card payment of bitcoin purchase).

Am I right? Please confirm.

Thanks.




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